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COBRA Administration

B. Wood Insurance brings the latest COBRA administrative technology to help shift liability away from our clients.   COBRA can be an added burden to any employer and takes up valuable time and resources.  With healthcare reform upon us, and additional regulations being handed down to employers, our COBRA third party administrators keep our employer groups in compliance.  Talk to your B. Wood Insurance broker today about this crucial value added service.

COBRA stands for Consolidated Omnibus Budget Reconciliation Act.  It was passed by Congress in 1985 as a way for employees to continue health insurance coverage for a period of time after losing group coverage due to termination of employment or qualifying event.

COBRA services include:

  • Initial rights notices sent to eligible employees
  • Tracking, maintaining, and reporting activities for audit support
  • Access to account history including current participant detail in real time
  • Online resource center – review federal guidelines, the latest IRS rulings, and recent court decisions
  • Prepare and distribute open enrollment rate and carrier change communication to participants
  • Bi-lingual customer support to participants
  • Online reporting

COBRA qualifying events:

  • Termination – for reasons other than gross misconduct
  • Reduction in hours
  • Divorce or separation
  • Covered employee moving to Medicare
  • Loss of dependent child status
  • Death of employee
  • Loss of other group coverage
  • Loss of Medicaid (MediCAL)